Malawi - Tax Changes

The Malawi Income Tax Bill October 2019 confirms the tax changes as mentioned in the Budget speech.  The Income Tax Bill contains proposed tax changes, still subject to final approval.

 

This tax file has already been deployed prior to this release, however, we are mentioning this change here so that it is documented.

 

Taxable Income	Percentage
0.00  –  K 45 000	0%
Next  K5 000	15%
Next K 2 950 000	30%
Excess over  K3 000 000	35%

 

Tax would have been recalculated to the beginning of the processing period in which the company was when the file was deployed.